Getting WILD for €2.3B

July 08, 2014

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Kohlberg Kravis Roberts is selling its stake in WILD Flavors, an estimated 35%, to Archer Daniels Midland (NYSE: ADM). In an all-cash transaction valued at approximately €2.3 billion ($3.1 billion), ADM will pay €2.2 billion ($3 billion) to WILD shareholders, including KKR, and assume about €100 million ($136 million) of net debt. WILD Flavors, with more than 3,000 customers worldwide and estimated 2014 net revenues of about €1 billion ($1.4 billion), offers food and beverage companies full flavor and ingredient solutions—known as flavor systems—and fruit juice concentrates and blends, as well as other food and beverage ingredients. KKR has backed it since early 2010.